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Global digital ad spend will reach $380 billion in 2021. Now, it’s going to even go up more in 2022, 2023, and et cetera. While worldwide digital ad spending achieved a modest 2.4% increase in 2020, it’s expected to shoot up 70% in 2021, according to eMarketer. US social media ad spend reached $43 billion in 2020. Now, I know that’s past now, but still, that was a 20% increase from 2019, according to eMarketer.
The answer is, it’s going to be the most saturated environment ever in the history of digital marketing.
First off, if you think about content, there’s roughly 1 billion blogs. There’s over 1.8 billion websites. That means there’s roughly one blog for every seven people. So how do you differentiate yourself with content? Use steps. Use data. Mix in your own story. Talk about your experiences. See, people want a fresh perspective. If you don’t give them a fresh perspective, you’re not going to do well. You’re just going to be the same old stuff that everyone else is saying.
The second way to differentiate yourself, I want you to spend more time updating your content than writing new content. As I mentioned, there’s more content than we need on this web, so if you update your content, you’re going to rank better because Google wants to keep ranking fresh content over stale content.
The third way to differentiate yourself, influencers. And if you think about it, adding an influencer to a brand helps blows things up. Tom Brady. FTX. You see Tom Brady in FTX commercials. You see LeBron James in Tonal commercials. You know, Tonal, the fitness machine where you have machine-based dumbbells or electric weights? That’s the power of influencers. I
The fourth thing that I want you to focus on is adding in the upsells and downsells. Conversion optimization is one of the least sexiest topics out there. I don’t create too many videos about it because no one wants to watch them. Our podcast, Marketing School, that I do with my cohost, every time we have a podcast on conversion rate optimization, one of the lowest-watched videos.
But if you add in the upsells and downsells with the rising cost of marketing, not just ads, but it takes longer to get SEO results, more expensive to do content marketing, if you do upsells and downsells, you can generate more revenue from each conversion, optimizing your lifetime value, which makes things more profitable.
And last, but not least, take an omnichannel approach. Used to be able to build a business from one channel, whether it’s SEO, Google ads, Facebook ads, so a lot of eCommerce sites these days, they just want to rely on Facebook ads. And then boom, Apple makes the iOS privacy change. What happens? The eCommerce companies, whoa, whoa, our ads aren’t doing as well. Yeah, you shouldn’t have been relying on one channel. It doesn’t mean you shouldn’t use Facebook ads or Google ads or SEO, but you need to use them all.
You may not be able to use them all from day one, but eventually you can take the omnichannel approach and go after most of the channels. Some may not perform as well as others, it’s okay. Some may not drive as much volume as others, it’s okay. But if you take the omnichannel approach, you’ll do well in the long run and you won’t have to worry as much for algorithm updates.
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